Sending money to family or friends can sometimes feel complicated, especially if you do not have a bank branch nearby or prefer not to use digital apps. Thankfully, there is a very simple and secure way to send money using your Aadhaar number and fingerprint, called the Aadhaar-enabled Payment System (AePS). This guide will help you understand AePS and show you exactly how to send money from your Aadhaar-linked bank account to another person’s Aadhaar-linked bank account.
Understanding Aadhaar-enabled Payment System (AePS)
The Aadhaar-enabled Payment System, or AePS, is a revolutionary way to perform banking transactions. It was developed by the National Payments Corporation of India (NPCI) to make banking services easily available to everyone, especially in areas where traditional banking facilities might be limited.
What is AePS?
AePS allows you to do basic banking transactions, like checking your balance, withdrawing cash, or sending money, by simply using your Aadhaar number and your fingerprint or iris scan. You do not need to sign anything, remember a PIN, or even carry a debit card. It is a secure and convenient way to access your bank account directly through your unique identity.
How AePS Helps You Send Money
AePS provides a straightforward method for sending money from your bank account to someone else’s. Instead of filling out forms or using complex online banking, you can visit a service point, confirm your identity with your fingerprint, and then provide the receiver’s Aadhaar details. The system then securely transfers the funds directly between the two Aadhaar-linked bank accounts. This process makes financial services much more accessible and user-friendly.
Who Can Use AePS for Sending Money?
To use AePS for sending money, you must meet a few simple requirements:
- You must have an Aadhaar number.
- Your bank account must be linked to your Aadhaar number.
- The person you are sending money to must also have a bank account linked to their Aadhaar number.
If you meet these conditions, you can easily use AePS to send money.
What You Need to Send Money with AePS
Before you visit an AePS service point, it is helpful to know what information and items you will need. Having these ready will make your transaction smooth and quick.
Your Aadhaar Number
This is your unique 12-digit identification number issued by the Unique Identification Authority of India (UIDAI). It is essential for AePS transactions as it identifies you within the banking system.
Your Bank Account Linked to Aadhaar
For AePS to work, your bank account must be officially linked to your Aadhaar number. This linking allows the system to identify your specific bank account when you use your Aadhaar and biometric details. If your account is not linked, you will need to do so at your bank first.
Your Fingerprint or Iris Scan
AePS uses your unique fingerprint or iris pattern as your “digital signature.” This biometric information confirms your identity and authorises the transaction, making it very secure. You will place your finger or eye on a special scanner at the service point.
The Receiver’s Aadhaar Number and Bank Details
You will need to know the Aadhaar number of the person you want to send money to. It is also helpful to know the name of their bank to ensure the money reaches the correct destination.
Your Simple Steps to Send Money Using AePS
Sending money using AePS is a straightforward process. Just follow these steps carefully:
Step 1: Find an AePS Service Point
First, you need to locate a place that offers AePS services. These are commonly found at bank branches, business correspondent outlets, certain post offices, and micro-ATMs in various locations.
Step 2: Tell the Agent You Want to Send Money
Once you are at a service point, inform the agent or operator that you wish to perform an “Aadhaar to Aadhaar Fund Transfer.”
Step 3: Provide Your Aadhaar and Bank Details
The agent will ask for your 12-digit Aadhaar number. You will also need to specify the name of your bank from which you want to send the money.
Step 4: Give Your Fingerprint or Iris Scan
To confirm your identity, the agent will ask you to place your finger on a biometric scanner or look into an iris scanner. This step verifies that you are the legitimate account holder.
Step 5: Enter the Receiver’s Aadhaar Number and Bank Details
Next, you will need to provide the Aadhaar number of the person who will receive the money. The agent will also ask for the name of their bank.
Step 6: Confirm the Amount You Want to Send
Clearly state the exact amount of money you wish to send. The agent will enter this into the system.
Step 7: Review and Confirm the Transaction
Before finalising, the agent will show you a of the transaction details, including your Aadhaar number, the receiver’s Aadhaar number, and the amount. Carefully check all the information to ensure it is correct. Once you are satisfied, confirm the transaction.
Step 8: Get Your Transaction Receipt
After the transaction is successful, the agent will provide you with a printed receipt. This receipt is very important as proof of your transaction, so keep it safe.
Important Things to Remember When Using AePS
While AePS is designed to be easy and secure, keeping a few important points in mind will help you use the service safely and effectively.
Keeping Your Aadhaar Safe
Your Aadhaar number is a vital part of your identity. Only share it with trusted AePS agents or official service points. Your fingerprint or iris scan is your personal key, and it should only be used by you to authorise transactions. Be cautious and protect your personal information.
Checking Transaction Limits
Banks may have daily or per-transaction limits on the amount of money you can send using AePS. It is a good idea to check with your bank about these limits beforehand to avoid any surprises.
What Happens If There’s a Problem?
In the rare event that you encounter an issue, such as money being debited from your account but not reaching the receiver, or any other transaction error, you should immediately contact your bank. Keep your transaction receipt handy as it contains all the necessary details to help your bank investigate the issue.
Why Your Bank Account Must Be Aadhaar-Linked
The Aadhaar-linking of your bank account is not just a formality; it is fundamental to how AePS works. This link allows the system to securely identify your specific bank account using your Aadhaar number and biometric data. Without this connection, AePS cannot access or process transactions from your account.
The Good Things About Sending Money with AePS
AePS offers many benefits that make it an excellent choice for sending money.
Easy and Quick
The process is straightforward and does not involve complicated paperwork or remembering multiple passwords. Transactions are usually processed very quickly, saving you time and effort.
Safe and Secure
Using your unique fingerprint or iris scan makes AePS transactions highly secure. This biometric authentication significantly reduces the risk of fraud, as only you can authorise payments from your account.
Available Everywhere
AePS service points are widely available, even in remote and rural areas where traditional banking infrastructure might be limited. This widespread availability ensures that more people can access banking services conveniently.
No Need for a Card or PIN
One of the biggest advantages is that you do not need to carry a debit card or remember any PINs. All you need is your Aadhaar number and your biometric identity, making it incredibly convenient and reducing the chances of losing cards or forgetting passwords.
Author
